(Solved): Consider the following game of chance. A card is drawn from a standard 52 -card deck. A player must ...

Consider the following game of chance. A card is drawn from a standard 52 -card deck. A player must pay 6 dollars to play the game, which must be subtracted from the winnings. If a black card is drawn, the player wins 10 dollars; otherwise, they lose their 6 dollars. (a) Calculate the expected value for the game. \$ (b) Do you expect to win or to lose? Type win or lose. (c) Calculate the price that would make the game fair.: Round to the nearest cent as needed.